Airtel Africa PLC has posted a 22.4% surge in group revenue to $1.415 billion in the first quarter ended June 30, 2025, buoyed by strong customer growth, rising demand for data and financial services, and the continued execution of its pan-African strategy. In constant currency terms, revenue growth stood at 24.9%.
The Group’s performance was underpinned by robust growth across voice, data, and mobile money services, with East Africa contributing significantly.
Revenues in the East African region grew by 17.6% in reported currency to $498 million, supported by a 9.8% growth in the customer base and a 21.4% increase in data revenue. Voice revenue in the region rose by 15.1%, bolstered by a 4.0% increase in average revenue per user (ARPU).
Chief Executive Officer Sunil Taldar attributed the strong results to rising demand, customer-centric innovation, and focused execution.
“We are very pleased with the strong growth in our operating and financial performance in the first quarter,” Taldar said.
“The strength of this performance and the scale of growth reflect the sustained demand for our services and the strength of our business model. Our strategy continues to prioritise customer experience, as seen with innovations like Airtel Spam Alert — an AI-powered solution to improve trust and safety.”
Taldar added that smartphone penetration remains a key growth lever, with current levels at just 45.9%, highlighting the untapped potential across markets. Data customers rose by 17.4% to 75.6 million, while overall customer numbers climbed 9.0% to 169.4 million.
Digital and Financial Services Driving Growth
The company’s mobile money platform, Airtel Money, remains a cornerstone of its growth strategy, with a customer base approaching 46 million — up 16.1% year-on-year.
As customers increasingly adopt a wider range of digital financial services, the annualised transaction value jumped 35% to $162 billion, while mobile money ARPU rose by 11.3% in constant currency.
“Mobile money continues to play a pivotal role in advancing financial inclusion across our footprint,” Taldar said. “We see significant potential to grow our digital payments and enterprise offerings.”
Network Expansion and Investment
Airtel Africa also expanded its network infrastructure during the quarter, adding 2,300 new sites to reach 37,579 and extending its fibre network by 2,700 kilometres to a total of over 79,600 kilometres.
The company now covers 74.7% of the population with 4G, an increase of 3.4 percentage points compared to the same period last year.
Capital expenditure stood at $121 million in the quarter, lower than the same period last year due to timing differences. The Group maintained its full-year capex guidance of between $725 million and $750 million.
Financial Highlights
- Group EBITDA grew 29.8% year-on-year to $679 million, with margins expanding from 45.3% to 48.0%, supported by stable fuel prices and ongoing cost efficiencies.
- Profit after tax surged to $156 million, up from $31 million a year earlier, aided by the appreciation of the Central African franc (CFA) and reduced foreign exchange losses.
- Basic earnings per share rose to 3.4 cents from 0.2 cents in the prior period.
- Mobile service revenues grew by 23.8% in constant currency, with voice revenue up 13.9% and data revenue up 38.1%.
- Mobile money revenue increased by 30.3% in constant currency.
Balance Sheet and Capital Strategy
Airtel Africa continued its debt localisation programme, successfully reducing foreign currency exposure. As of June 2025, 95% of the Group’s operating company debt (excluding lease liabilities) is denominated in local currency, up from 86% a year earlier.
The company’s leverage ratio increased to 2.2x from 1.6x due to a $1.3 billion rise in lease liabilities following tower contract renewals. However, lease-adjusted leverage remained steady at 0.9x.
As part of its ongoing $55 million share buyback programme, Airtel Africa repurchased 7.1 million ordinary shares worth $16.9 million by the end of June 2025.
Outlook
Despite macroeconomic uncertainties, Airtel Africa remains bullish on its growth prospects, citing strong demand for digital services, increased smartphone adoption, and continued expansion of its mobile money and enterprise services.
With a strong balance sheet and ongoing investment in network infrastructure, the company says it is well-positioned to bridge the digital divide and deliver long-term value.
“We remain confident about our ability to capture the available growth potential across our markets,” Taldar concluded. “Our focus remains on delivering services that improve lives, strengthen communities, and support the economies we serve.”
